Stablecoin market set a record of $ 224 billion, as USDT and USDC contributed to growth.
According to the famous cryptocurrency council CoinmarketcapUSDC is constantly gaining the ground on several stablecoins.
Usdc and USDT have witnessed incredible growth since 2023
The Stablecoin market increased by more than 84 % from 121.18 billion dollars in August 2023 to $ 224 billion. Currently, the market value has increased by more than 0.14 % in the past 24 hours, and its trading volume is 112 billion dollars, an increase of 16 %.
Tether USDC and USDT have grown more than others since 2023, while the rest of the market showed a medium steady growth.
Usdt has the highest maximum market of $ 139 billion; However, USDC recently gained an advantage over other stablecoins.
Alfrakal You think USDC has gained popularity after the last decline in Altcoins, where a large part of the sales has been transferred to USDC.
🚨 Cap Stableco Market exceeds $ 211 billion – USDC earns momentum!
Since 2023, the Stablecoin market has grown significantly, mainly driven by USDT (Tether). However, recently, USDC has gained an advantage over other stablecoins.
This trend occurs due to the last decline in … pic.twitter.com/irkrremce
– alphraractal (@alphractal) January 31, 2025
On the contrary, the platform added that the decrease in hegemony can open the door to the highest level in the market.
Usdc market is about to reach $ 55 billion
The market value of the USDC is $ 53.33 billion, an increase of 120 % from 24.1 billion dollars on November 14, 2023. As of January 31, a market share of 24.6 % was held.
Its trading volume is $ 8.85 billion, a decrease from its highest level ever on January 18.
The code also showed 78 % growth on an annual basis in trading. As of January 30, Stablecoin I, at Circle, issued about $ 3.4 billion, a recovery of about $ 2.3 billion, and increased trading by about 1.2 billion in only seven days. Currently, more than 53 billion US dollars is traded.
However, both USDT and USDC will see a change in their European markets, where Crypto.com deleted it. Crypto.com decided to leave two Stablecoins, in the wake of the European Union markets at the Mica Assets (MICA).
In addition to Usdt and USDC, the platform has also deleted Bitcoin (WBTC), Dai (Dai), Pax Dollar (PAX), Pax Gold (Paxg) and Paypal usd (Pyusd). To date, the platform contains all these symbolic purchases; However, users can still perform withdrawals until the end of the first quarter of 2025.
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